Kavango Resources plc has granted a total of 240 million share options to directors, management and staff.
GOLD
Directors and persons discharging managerial duties, comprising four out of five on the team, received an aggregate 90 million share options.
Employees and consultants received a total of 150m share options.
All the options are exercisable at a price of one pence per ordinary share and will vest after three years, for a period of 10 years.
Executive director and chief operating officer Alexandra Gorman was granted 40m; executive interim finance officer Donald McAlister, 20m; Kavango co-founder and executive director Hillary Gumbo, 20m; and non-executive director Gautam Dalal, 20m.
The company holds gold exploration, development and production licences in Zimbabwe, as well as copper-silver licences, covering 5,200km2, in Botswana.